Daily Precious Metal Update

July 10, 2009 - Gold, silver and platinum bullion bars have dominated the safe haven investment market in the past few years as wise investors from around the globe flocked to the precious metals as a hedge from dangers with paper currencies. This comes as no surprise, especially since history has proven that safe haven demand skyrockets during both inflationary and deflationary economic environments. Since the beginning of our current recessionary cycle, American investors have slowly but surely begun shifting away from dollar-backed assets in exchange for precious metal bullion bars that could protect them from the onslaught of problems that have hacked away at stocks and bonds. Sure enough, many of these wise investors have found the profit and preservation potential that they seeked during the worst financial crisis we have seen since the Great Depression.

Precious metal spot prices are showing very minimal movement today as investors continue showing caution with investing markets. Currently, gold is trading at $912 per ounce, while silver is trading at $12.63 per ounce and platinum is trading at $1105 per ounce.

Several market analysts have released some very interesting short-term and long-term forecasts that predict mixed sentiment with precious metals. Short-term forecasts are predicting further instability with investing markets in general as the global financial crisis continues to force governments around the world to take drastic measures in order to prevent economic collapses. As far as the long-term forecasts are concerned, many market analysts are predicting high inflation as a result of massive stimulus and bank bailout packages, thus leading the way to for higher priced gold, silver and platinum bullion bars.

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Danny Burns

Senior Staff Writer - Precious-Metal.org